The abundance of intellectual capital in the country creates a significant opportunity for MNCs in the ongoing research ecosystem. A considerable number of Indian engineers who are working globally only reiterate the highly trained manpower which is getting available at competitive costs in the R&D and R&D consultancy space. In line with that, numerous MNCs have also shift-ed or are in the process of shifting their R&D bases to India as well. The scope for R&D companies which have been developed in India hand in hand with the MNCs is huge when it comes to serving the local market.
The R&D consultancy industry of the country is in the growth phase as it stands. Companies in this space are coming up with innovations in technology that have diverse potential to gain importance in the market. Artificial Intelligence (AI) and Machine Learning (ML) being two of the core areas of development, companies that have been formed by industry veterans are disrupting the market by catering services related to R&D to SMEs as well as legacy applications to further revolutionise the state of things.
Considering the above developments in mind, the Consultants Review magazine has come up with a list of "10 Most Promising Re-search & Development Consulting Companies" who have been able to take the development process only further. The following list has undergone strict scrutiny by a panel of judges which include CEOs, CIOs, CTOs, analysts and the Consultants Review editorial team.